Advice on Niche Market Exit Planning
Selling a Tanners Equipment and Supplies Business
You've invested time, effort, and creativity into building your tanners equipment and supplies business. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Many business owners don't know that tanners equipment and supplies businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Economic Considerations
When you sell a tanners equipment and supplies business, there are a number of variables you need to consider. Interest rates, spending, inflation, and other variables directly influence how long your tanners equipment and supplies business will be on the market as well as its sales price. The truth is that perfect market conditions may never materialize. A much better approach is to focus on the factors that always attract buyers and investors. One thing is for sure - buyers are paying more attention to your company's profitability and growth potential than they are to the latest quarterly economic indicators.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood tanners equipment and supplies business sellers with questions and requests, often to the point of becoming a nuisance. The questions tanners equipment and supplies business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
Tips for Working with A Business Broker
Business brokers are professional business sellers. Brokerage is particularly common in the tanners equipment and supplies business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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